My basic bias for today is a positive close on the day. That doesn't rule out a lower low during the day. All dependent on where we open. I'm feeling fairly confident we make new lows later this week if not.
Rationale: reversed off the open. Unless we double/triple top here, maybe we're done below for now (and even for today).
I was short at 64 and took a 1,5 point loss. Tempted to short again, but this market seems to want to go higher. Also supported by some other data I have. I am however too fearful to buy here, so will be sitting on my hands and stalk a potential short.
Not necessarily today, but this week looks a lot like we'll just chop into option expriy. A few single names on either earnings or news, but nothing clear signalling either direction.
Strong market. Could easily trade up to 90s today, I think. I maintain a short bias for the week, but we are due a recovery at this point.
Now look at that. I bet many people was anticipating a long entry on that initial pullback. Should be interesting to see if it's just a nice down swing or if there's some intention behind it and we can make new lows on the day.